What can be inferred by “a penny not earned”?
Opportunity Cost
This phenomenon goes by the name of ‘opportunity
cost,’ since by not investing in more equipment and
a more rigid production flow, the company is forgoing the opportunity to earn increased profits. These
costs are every bite as real as the payment of dollars
out-of-pocket.
This notion _______ opportunity cost can be reinforced _________ a famous saying ______ Benjamin
Franklin, no slouch himself _________ operations
management. To make the point, however, we must
make a brief excursion into logic. One truth of logic is
the validity of the so-called contrapositive, which says
simply that if the statement “If A, then B” is true, then
it is also true that “If not B, then not A.” That is, of every
time A occurs B follows, then we can be sure that if B
does not occur, then A did not occur as well. Enough
logic then, and back to Ben Franklin.
One of his Poor Richard sayings is that “A penny saved
is a penny earned.” We have all recognized the truth of
that since childhood, but I assert that by this saying
Ben showed us he knows everything about opportunity cost. After all, what is the contrapositive of “A
penny not earned is a penny not saved (i.e., a penny
sent). All we are saying by this notion of opportunity
cost is that “a penny not earned (an opportunity forgone) is a penny spent.” We shall often have occasion
to consider opportunity costs, in analyzing and deciding various operations issues.
SCHMENNER, Roger W. Production/Operations Management. 5th
Edition. Prentice-Hall, 1993.
Opportunity Cost
This phenomenon goes by the name of ‘opportunity cost,’ since by not investing in more equipment and a more rigid production flow, the company is forgoing the opportunity to earn increased profits. These costs are every bite as real as the payment of dollars out-of-pocket.
This notion _______ opportunity cost can be reinforced _________ a famous saying ______ Benjamin Franklin, no slouch himself _________ operations management. To make the point, however, we must make a brief excursion into logic. One truth of logic is the validity of the so-called contrapositive, which says simply that if the statement “If A, then B” is true, then it is also true that “If not B, then not A.” That is, of every time A occurs B follows, then we can be sure that if B does not occur, then A did not occur as well. Enough logic then, and back to Ben Franklin.
One of his Poor Richard sayings is that “A penny saved is a penny earned.” We have all recognized the truth of that since childhood, but I assert that by this saying Ben showed us he knows everything about opportunity cost. After all, what is the contrapositive of “A penny not earned is a penny not saved (i.e., a penny sent). All we are saying by this notion of opportunity cost is that “a penny not earned (an opportunity forgone) is a penny spent.” We shall often have occasion to consider opportunity costs, in analyzing and deciding various operations issues.
SCHMENNER, Roger W. Production/Operations Management. 5th
Edition. Prentice-Hall, 1993.
Gabarito comentado
Alternativa correta: C — an opportunity forgone
Tema central: a questão testa interpretação de texto e o entendimento do conceito econômico opportunity cost (custo de oportunidade). É fundamental identificar, no contexto, o sentido em que uma expressão é usada — aqui, “a penny not earned” não é literal, mas refere-se ao benefício perdido.
Resumo teórico: custo de oportunidade = o valor do melhor uso alternativo a que se renuncia ao escolher uma opção. Em palavras simples: o que você deixou de ganhar/obter por optar por outra coisa (Mankiw, Principles of Economics). No texto, o autor explicita essa ideia ao dizer que “a penny not earned (an opportunity forgone) is a penny spent.”
Justificativa da resposta C: pelo contexto, “a penny not earned” é apresentada como sinônimo de “an opportunity forgone”. O autor esclarece explicitamente essa equivalência para exemplificar o custo de oportunidade — portanto, a inferência exigida corresponde exatamente à alternativa C.
Análise das alternativas incorretas
A — coins: leitura literal. O trecho usa “penny” como metáfora de valor/benefício, não para indicar moeda física. Logo, não é a melhor inferência.
B — money cost: refere-se a custo monetário explícito (desembolso). O custo de oportunidade não é necessariamente um pagamento em dinheiro, mas um benefício perdido — embora relacionado, não é o mesmo conceito.
D — money won: contrária ao sentido. “Not earned” não implica ganho, e sim perda de oportunidade. Portanto é incorreta.
E — profits: embora “penny” remeta a ganho, a expressão no texto enfatiza a oportunidade perdida, não especificamente lucros contábeis; além disso, “profits” seria muito restritivo comparado a “opportunity forgone”.
Estratégias de interpretação úteis: procure definições ou paraphrases no próprio texto; identifique sinais (palavras como “is,” “i.e.”, “after all”) que conectam termos; elimine alternativas literais quando o autor usa metáfora ou conceito técnico.
Fontes citadas: Schmenner (Production/Operations Management) — trecho usado no enunciado; N. Gregory Mankiw, Principles of Economics — definição de opportunity cost.
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